By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
By Staff Reporter
ISLAMABAD: The government plans to raise much needed millions of dollar in debt via an Islamic sukuk bond later this calander year amid growing concerns about the country’s dwindling foreign currency reserves.
By Staff Reporter
KARACHI: The central bank has made importers’ access to dollars comparatively difficult by directing banks to come to it first before making a transaction of $100,000 for any import payment in a latest bid to conserve hard US currency, media reported quoting sources on Monday.
By our correspondent
ISLAMABAD: Pakistan is just ‘one step away’ from being removed from the grey list of the FATF — the international watchdog monitoring money laundering, terror financing, and other threats to global financial networks, after the had substantially completed its two action plans, covering 34 items, as part of a bid to get off the list on which it has been since 2018.
By Staff Reporter
ISLAMABAD: Pakistan’s ambassador to the US, Masood Khan, met President Joe Biden in the White House and the two discussed to reset bilateral ties, which had deteriorated in the past few years under former prime minister Imran Khan.
By Staff Reporter
ISLAMABAD: Pakistan will have to ‘do more’ to align the Budget 2022-23 with IMF’s requisites for the resumption of Extended Fund Facility (EFF) programme, a top fund official said on Monday.
By Staff Reporter
ISLAMABAD: The cost of total foreign debt servicing is seen snowballing to $23 billion for the budget 2022-23 as repayment of commercial loans has now assumed a major chunk of an outstanding amount of $6 billion out of total obligations.
By Staff Reporter
KARACHI: Pakistan’s finance minister said countries that have typically been generous in lending to the crisis-hit nation are proceeding more cautiously now.
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Saturday green-signalled the import of 3 million tonnes of wheat and 200,000 tonnes of Chinese urea to build strategic stocks to cushion any supply shocks.
By Staff Reporter
ISLAMABAD: With Pakistan and the International Monetary Fund (IMF) deadlocked over the issue of energy subsidies, the revival of a suspended Fund bailout will have to wait until after the approval of the national budget for the next fiscal, it became clear late Wednesday.
